Pertamina EP expected to accelerate Ambalat Block exploration

By Godang Sitompul

SKSP Migas, the caretaker upstream oil and gas regulator, welcomes the acquisition of the Ambalat Block by PT Pertamina EP, a subsidiary of state-owned oil and gas PT Pertamina, hoping that the company could accelerate exploration work at the block to start next year.

Deputy for Planning at SKSP Migas Widiyawan Prawiraatmadja told Petromindo.com Tuesday that Pertamina EP hopefully could form synergy with ENI SPA, the other stakeholder at the Ambalat block, to speed up the exploration work.

Pertamina EP on Monday announced that it has reached a final agreement with Anadarko Offshore Holding Company LLC to acquire 100 percent shares of three Anadarko?s subsidiaries, namely Anadarko Ambalat Ltd., Anadarko Bukat Ltd., and Anadarko Indonesia Nunukan Co.

Each of the three subsidiaries has a participating interest of 33,75 percent in Ambalat Block, 33,75 percent in Bukat Block, and 35 percent in Nunukan Block, Pertamina said in a press statement on Monday.

Editing by Rainer Simanjuntak